Patrick Macdonald said: “Inenco is a great company. I’m looking forward to working with the rest of the team to build an even stronger business.

“Michael has given exemplary service for more than 26 years and I am delighted he will continue to work with Inenco as a Senior Advisor, allowing the business to benefit from his considerable experience and expertise within the industry.”

Michael Abbott said: “Having led Inenco since 2009, I feel it is time to move on to the next stage in my career.

“I’m proud of all we have accomplished and wish the team well as they continue to develop the business.”

An electrical engineer, Patrick started his professional career with the UK Atomic Energy Authority before joining the Ministry of Defence, Unilever and The Boston Consulting Group.

He then joined General Electric (GE), based in the USA. In 2003 he became CEO of John Menzies plc, a quoted, family-backed international logistics company where he doubled profitability.

He has subsequently worked in private equity, including a period as CEO of a renewable energy business.